{"id":174522,"date":"2026-06-04T01:56:20","date_gmt":"2026-06-04T01:56:20","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=174522"},"modified":"2026-06-04T01:56:20","modified_gmt":"2026-06-04T01:56:20","slug":"bitcoin-price-10-selloff-sparks-fears-of-a-deeper-breakdown","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=174522","title":{"rendered":"Bitcoin Price 10% Selloff Sparks Fears Of A Deeper Breakdown"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $68,000 zone. BTC is down over 10% and might continue to move down if it dips below $62,000.<\/em><\/p>\n

Bitcoin failed to stay above $68,500 and extended losses.
\nThe price is trading below $65,000 and the 100 hourly simple moving average.
\nThere is a bearish trend line forming with resistance near $65,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might extend losses if it stays below the $65,000 and $66,500 levels.<\/p>\n

Bitcoin Price Takes A Major Hit<\/h2>\n

Bitcoin price failed to stay above the $70,000 support zone<\/a>. BTC remained in a bearish zone and extended losses below the $68,000 level. There was a move below the $65,000 level.<\/p>\n

The price even dipped below $63,200. A low was formed at $62,490 and the price is now showing many bearish signs. It is well below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $62,490 low.<\/p>\n

Bitcoin is now trading below $65,000 and the 100 hourly simple moving average. If the price remains stable above $62,000, it could attempt a fresh increase. Immediate resistance<\/a> is near the $63,500 level.<\/p>\n

The first key resistance is near the $64,000 level. A close above the $64,000 resistance might send the price further higher. In the stated case, the price could rise and test the $65,000 resistance. There is also a bearish trend line forming with resistance near $65,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

<\/a><\/p>\n

Any more gains might send the price toward the $66,500 level. The next barrier for the bulls could be $68,000 or the 50% Fib retracement level of the downward move from the $74,070 swing high to the $62,490 low.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support is near the $62,500 level.<\/p>\n

The first major support is near the $62,000 level. The next support is now near the $61,200 zone. Any more losses might send the price toward the $60,500 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $62,000, followed by $60,000.<\/p>\n

Major Resistance Levels \u2013 $64,000 and $65,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $68,000 zone. BTC is down over 10% and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $68,500 and extended losses. The price is trading below $65,000 and the 100 hourly simple moving average. There is a bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":174523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-174522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/174522"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=174522"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/174522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/174523"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=174522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=174522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=174522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}